The list of the highest paid CEOs was released last week, and guess what: your name isn't on it! Frankly, I don't believe anyone is worth $100 million a year, especially when the economy is tanking and stock values are falling. Something is wrong here, very wrong, because this obscene acquisition and concentration of wealth is robbing companies of the capital they need to reinvest in America.
Stephen Schwartzman, CEO of Blackstone Group, whose stock is down over 2%, made over $700 million last year. That's right. Who deserves that kind of money? What does that kind of money do to the psyche of an individual?
Larry Ellison from Oracle was bumped from his top position despite the fact that his salary and benefits rose to over $550 million, up from $192 million the year before. I got a $5,000 raise last year, not a $250 million raise!
The rest of the white men on the list of the highest paid come from the oil and gas industry, no surprise, in light of the price of oil and its fluctuations.
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